Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
These four stocks are moving on news and gaining technical momentum.
Axsome Therapeutics, Inc. (AXSM) jumped $8.60 to $89.57 on 2.6 million shares Wednesday, more than double its average volume. On Monday the biotech company said its experimental treatment for depression met the primary endpoint in a Phase 3 clinical trial. The move popped the stock through the top of an already steep channel rising from the $20 level just two months ago. Watch for $106 next.
Bed Bath & Beyond Inc. (BBBY) gained 84 cents to $17.72 on 10.5 million shares Wednesday. The move followed news of a restructuring in which six senior leaders are leaving the specialty retailer. The stock has been stair-stepping up its rising channel since its mid-August low at $7.31, and the channel top now points to a target of $20-$20.50.
Canopy Growth Corporation (CGC) rose 88 cents to $21.13 on 6.7 million shares Thursday. The company announced a new hemp-derived CBD product line. The stock bounced off the bottom of its declining channel last month, and has since been consolidating before breaking out of the channel earlier this week. A move through recent highs in the $21.50-.70 area could lead to our next target of $26.
Mallinckrodt plc (MNK) jumped 33 cents, or nearly 10%, to $3.69 on 7.6 million shares Thursday. The UK-based biopharmaceutical company last week announced findings on a novel predictive model to more quickly identify infants with a rare seizure disorder. A break through lateral resistance in the $4-$4.15 range could accelerate the stock to $5.25.
By Harry Boxer, TheTechTrader.com
Two retailers popping on earnings Thursday are among our top charts to watch.
Express, Inc. (EXPR) jumped $1.09 to $5 on 6.7 million shares Thursday, more than 4x its average volume. The apparel retailer released third quarter financial results that beat analyst estimates. After a 12-month decline, the stock has been in a rising channel since September, and Thursday’s 28% move broke it out above the channel top, closing right at lateral resistance. Next target is $5.75, last reached in January.
Here are three stocks with continued technical momentum in the days and weeks after strong earnings releases.
Clovis Oncology, Inc. (CLVS) jumped 75 cents to $7.76 on 8.1 million shares Thursday. The move continued the stock’s run-up following the biotech company’s better-than-expected earnings release two weeks ago. The stock closed right above lateral resistance, and next target is the rising channel top near $9-9.25.
These three health and technology stocks are on the move and pointing higher.
Advanced Micro Devices, Inc. (AMD), one of our swing trade picks from two weeks ago when it was at $33.60, jumped 81 cents to $37.52 on 67 million shares Wednesday. On Tuesday, the chip maker announced Tencent will use its latest server processors. The stock has been in a steep rising channel since its recent low below $28 in early October. Next target is the rising channel top near $40.
Inogen, Inc. (INGN) has been up by as much as 20% today after releasing better-than-expected earnings and revenues. The medical technology company, which makes portable oxygen concentrators, is one of our top stocks to watch in our Charts of the Day video from last night.
The stock began breaking out of a 2-month base in mid-October, up from the $45 range, and, with Tuesday’s pop of $1.62 to $59.32 and after-hours move into the mid-$60’s, appeared poised to accelerate. Our target, as noted in the video, is the June high in $73-$75 range.
Here are three stocks on the move, two ahead of earnings and one following a better-than-expected release.
Digital Turbine, Inc. (APPS) climbed 19 cents to $6.98 on 1.6 million shares Wednesday. The move comes ahead of the expected November 4 earnings release by the company, whose software platform connects mobile operators and OEMs with mobile advertisers. The stock, which earlier this week broke out of a nearly 2-month declining wedge, tested lateral resistance intraday before backing off. A move through that $7.30-.35 resistance level could take it to our next target of $9.25.